Agricultural Bank county-level SME loans 1 trln yuan, yicai says

Agricultural Bank of China (01288.HK, 601288.CN) said outstanding small and medium enterprise loans at its county-level branches totaled 1.01 trillion yuan (US$162.757 billion) at the end of 2013, marking an increase of 10.8 percent or 98.3 billion yuan from the level at the beginning of the year, news website yicai.com reported Wednesday. In 2013, new loans for small and medium enterprises (SMEs) from county-level branches made up for 51.7 of the lender’s overall new loans, representing a key growth engine for the bank’s credit business, the report said.

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